Citigroup rejects EMI debt proposal
Monday, Nov 16th 2009 at 3:24PMThe Wall Street Journal today claims that the bank has told Terra's chairman Guy Hands it intends to reject his firm's attempts to re-finance the EMI debt.
As previously reported, Hands has requested that the bank writes off a significant amount of the debt at EMI, in return for Terra investing an extra £1bn into the company.
A Terra Firma spokesman says, "Per today's news articles, we can confirm that we have made an offer involving the injection of £1 ...
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